Risk Off! Rate Cuts! - As Makes the Angels Weep

"Over the last thirty years, the United States has been taken over by an amoral financial oligarchy, and the American dream of opportunity, education, and upward mobility is now largely confined to the top few percent of the population. Federal policy is increasingly dictated by the wealthy, by the financial sector, and by powerful (though sometimes badly mismanaged) industries such as telecommunications, health care, automobiles, and energy.

These policies are implemented and praised by these groups’ willing servants, namely the increasingly bought-and-paid-for leadership of America’s political parties, academia, and lobbying industry.

If allowed to continue, this process will turn the United States into a declining, unfair society with an impoverished, angry, uneducated population under the control of a small, ultrawealthy elite. Such a society would be not only immoral but also eventually unstable, dangerously ripe for religious and political extremism."

Charles Ferguson, Predator Nation


"Hot money seeks out the conscious mispricing of risk.  Capital, in the form of both money and personal talent, increasingly flows into malinvestment and the gaming of markets. 

The productive economy languishes, left wanting for the lack of creative resources and attention. The bubble rises to unsustainable valuations— and fails, and a nation's capital is consumed.

Are you not entertained?  As Egon von Greyerz noted, the next five years are not about winning, but surviving.   So, then let us then proceed."

Jesse, 5 August 2019


“But man, proud man,
Dress'd in a little brief authority,
Most ignorant of what he's most assur'd—
His glassy essence—like an angry ape
Plays such fantastic tricks before high heaven
As makes the angels weep..”

William Shakespeare, Measure for Measure